This is a sponsored post by Eve Thompson of Reston Real Estate.
Inventory is holding steady with new homes coming on the market at about the same rate that they’re going under contract.
There are currently 117 houses on the market in Reston which is about 2 months’ worth of inventory. Spring is just around the corner and should bring with it a lot of new housing inventory, but will also bring out more buyers.
In my last Just Listed Sold blog post a reader commented that they thought the prices indicated a “Bubble” in the housing market — the unspoken threat being that surely a “burst” would soon to follow.
The market is moving at a pretty brisk pace but prices are not escalating at a rapid rate. Home value appreciation in Reston last year was at right around 5% which is slightly ahead of the historical norm of 4% for housing as an asset.
This better than average gain is offset by the fact that the Reston market has been a little flat for the past several years and has only recently begun to perk up, in part fueled by new construction around the metro. I don’t think there’s any indication of a housing market “Bubble.”
Here are a few of the new houses to hit the market in the past week: